Common use of Performance Schedule Delay Liquidated Damages Clause in Contracts

Performance Schedule Delay Liquidated Damages. In the event the Buyer shall fail, neglect or refuse to dismantle the Obsolete Vessel in the manner provided herein and within the performance schedule herein specified, or any extension thereof granted by the Contracting Officer pursuant to clause 2 of this ARTICLE, the Buyer shall pay to the Contracting Officer as liquidated damages and not as a penalty, in addition to any other sum or sums payable hereunder, the sum of SIX HUNDRED DOLLARS ($600.00) for each calendar day the Buyer shall fail to perform as to such Obsolete Vessel.

Performance Schedule Delay Liquidated Damages. In the event the Buyer shall fail, neglect or refuse to dismantle the Obsolete Vessel Vessel(s) in the manner provided herein and within the performance schedule herein specified, or any extension thereof granted by the Contracting Officer pursuant to clause 2 of this ARTICLE, the Buyer shall pay to the Contracting Officer as liquidated damages and not as a penalty, in addition to any other sum or sums payable hereunder, the sum of SIX HUNDRED DOLLARS ($600.00) for each calendar day the Buyer shall fail to perform as to such Obsolete Vessel.